Insurance question.

[ladrones]

So my little town decided to pass an flood control ordinance. Town officals have failed to address fema issues in regards to flood control so now supposedly the whole town is in a flood zone. Seems like some sort of scam to me.

Can I expect my insurance premium to go up a bundle? I'm already paying quite a bit for insurance at 500.00 a year.

[JHT]

It's not that much spread out over a year.
Flood insurance is federal.

I have been through 2 floods. One was a 100 year and the other was a 500 year I think. Its no fun...

If you still owe on your house, contact your mortgage company.

[Bill]

I got screwed when FEMA got tired of paying out $$ for flood claims, and changed how they calculated the 100-year flood zone. My township flood engineer took on FEMA and the County Water District (who 'owns' the stream at the end of the street and the levee which is supposed to prevent flooding), and in retaliation, they zoned the entire neighborhood in the flood zone including my house.

I think this will happen more and more as FEMA is trying to zone properties into flood zones to avoid paying out flood claims.

My flood insurance rates are set by law, and I'm paying almost $1,800/ year for something I don't need or want. Recognize that in Cali a 1,900 sq foot 4 br, 2bath house sells for almost a million $, so the calculation of replacement and repairs due to a flood will certainly be different. I did not say it was worth that much, it's what it costs.

I tried to prove that my foundation was above the official flood depth, instead of paying a surveyor $600 for that, I was able to get the elevation of a spike put in the street in front of my house my another surveyor (unofficial), and I played about with a piece of 2x4 and a level with a laser pointer taped to it, at the flood elevation, and the dot was above my foundation- so I remain unhappy and perfectly dry.

[trailboss]

Your homeowner insurance rates won't be affected by the flood zone rating since Texas homeowner policies don't cover flood. If your house if financed, your lender will now probably require that you have flood insurance in the amount of the loan balance. Unless you just especially want it, the lender will not require you to carry flood insurance on your contents.

Flood rates will vary depending on what Zone your house is situated in. The elevation of the ground floor may also have a bearing on rates but to get any sort of break on premiums you'll need an elevation certificate. You get that from a surveyor and it'll be at your expense.

The standard deductible on a flood policy is $500 but you can elect to carry a higher deductible if it is acceptable with your lender. Keep in mind that unless flood insurance is bought in conjunction with a loan closing date - coverage does not take effect until 30 days after the application date.

Trailboss

[ladrones]

I got screwed when FEMA got tired of paying out $$ for flood claims, and changed how they calculated the 100-year flood zone. My township flood engineer took on FEMA and the County Water District (who 'owns' the stream at the end of the street and the levee which is supposed to prevent flooding), and in retaliation, they zoned the entire neighborhood in the flood zone including me.

I think that is what is going on here. I have contacted my insurance and mortage company and they said that I am currently in Flood Zone X. It has not changed yet. The both sugested the elavation certifcation.
I would be lucky to get 10 inches of rain here in a full year.

[Burnadell]

I got screwed when FEMA got tired of paying out $$ for flood claims, and changed how they calculated the 100-year flood zone. My township flood engineer took on FEMA and the County Water District (who 'owns' the stream at the end of the street and the levee which is supposed to prevent flooding), and in retaliation, they zoned the entire neighborhood in the flood zone including my house.

I think this will happen more and more as FEMA is trying to zone properties into flood zones to avoid paying out flood claims.

My flood insurance rates are set by law, and I'm paying almost $1,800/ year for something I don't need or want. Recognize that in Cali a 1,900 sq foot 4 br, 2bath house sells for almost a million $, so the calculation of replacement and repairs due to a flood will certainly be different. I did not say it was worth that much, it's what it costs.

I tried to prove that my foundation was above the official flood depth, instead of paying a surveyor $600 for that, I was able to get the elevation of a spike put in the street in front of my house my another surveyor (unofficial), and I played about with a piece of 2x4 and a level with a laser pointer taped to it, at the flood elevation, and the dot was above my foundation- so I remain unhappy and perfectly dry.

Bill, am I missing something here? If the laser is level with the potential flood level, and the dot is ABOVE your foundation, then you are going to be UNDER WATER.

You're not an Aggie, are ya?

[topduarte]

You also have to understand that alot of the FEMA maps are outdated. Here in Texas, we just got them upgraded last year from 2000 and some were not even updated since 1993.

Look what happen in Illinois and the Midwest a few weeks ago, most of the maps were old and due to development the last 25 years, the impervious cover increased and therefore increased the runoff downstream.

Plus when there is new development, FEMA requires a LOMR (Letter of Map Revision) or something similar and it takes FEMA 6 months minimum to approve the new flood zones.

Holler if you need some more info or need some more clarification. P.E. here!!!

[Bill]

Bill, am I missing something here? If the laser is level with the potential flood level, and the dot is ABOVE your foundation, then you are going to be UNDER WATER.

You're not an Aggie, are ya?

If the water ever got to the elevation on the 'official' flood map, my house would be under water. I seriously doubt the water will ever get that high, however.

And I did graduate from an Ag school on my 1st college degree--- in New Jersey. Great place to be from.

[Outcast]

Rates are figured on how high (or not) your lowest floor is as compared to the base flood elevation on a current map. If I remember correctly you can get around the 30 day wait if the policy is written due to a map revision. (I'll have to check to be 100%) If you are not in a preferred zone (you will not be if you are dealing with this issue) you can exclude contents and change up the deducts as long as you are within the guides of your lender (assuming you have one). We have been writing a ton of flood......we always do in the spring....
Brice